• What was discussed at the Russian-Chinese energy business forum

    What was discussed at the Russian-Chinese energy business forum

    Decision of the Federal Service for Supervision in the Sphere of Communications, Information Technologies and Mass Communications (Roskomnadzor) dated November 27, 2020. EL No. FS 77-79546 Founder: JSC “Business News Media” I.o. chief editor: Kazmina Irina Sergeevna Advertising and information supplement to the newspaper “Vedomosti”. Registered by the Federal Service for Supervision in the Field of Communications, Information Technologies and Mass Communications (Roskomnadzor) under PI No. FS 77 – 77720 dated January 17, 2020. Any use of materials is allowed only in compliance with the rules of reprinting and if there is a hyperlink to vedomosti.ru News, analytics, forecasts and

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  • The Stockholm arbitration ordered the Finnish Gasum to pay Gazprom 300 million euros

    The Stockholm arbitration ordered the Finnish Gasum to pay Gazprom 300 million euros

    The arbitration tribunal in Stockholm ordered the Finnish energy company Gasum to pay Gazprom Export (a 100-percent “daughter” of Gazprom) more than 300 million euros under the current contract for the supply of Russian gas, Gazprom Export reported on November 17. As the Russian company explains, the decision was made as a result of an ad hoc arbitration in Stockholm on November 14, 2022. The sums of payments include debt for gas supplies, payments due to non-fulfillment of the “take-or-pay” obligation, as well as interest for late payment. It is also indicated in the message. that the tribunal recognized the

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  • The Stockholm arbitration allowed the Finnish Gasum not to pay Gazprom in rubles

    The Stockholm arbitration allowed the Finnish Gasum not to pay Gazprom in rubles

    The arbitration court determined that the Finnish energy company Gasum is not obliged to pay for Russian gas supplies in rubles through Gazprombank (GPB), the company reported on its website on November 16. The court also ordered Gasum and Gazprom Export to continue bilateral negotiations on the contract to settle the current situation. The decision was made on November 14, the message states. Gasum’s vice-president for communications and sustainable development, Olga Vaisyanen, explained to “Vedomosti” that the company’s claim was considered in the Stockholm Arbitration Court (Arbitration Institute of the Stockholm Chamber of Commerce; Stockholm Arbitrage. – “Vedomosti”). This institution

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  • The EU countries could not agree on limiting the price of Russian gas

    The EU countries could not agree on limiting the price of Russian gas

    Energy ministers of the European Union (EU) countries in Brussels during an emergency meeting of the EU Energy Council on September 9 could not agree on the introduction of a price ceiling for Russian gas, Reuters reported, citing two unnamed diplomats. “There was a big debate about limiting gas prices. And the European Commission (EC) should come up with a proposal that will help reduce prices for the whole [импортируемый в ЕС] gas, but at the same time will not put gas supplies to Europe under attack,” explained one of the Reuters interlocutors. Bloomberg sources explained that the EU countries

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  • “Novatek” postponed the project on the production of ammonia and hydrogen “Obsky GHC”

    “Novatek” postponed the project on the production of ammonia and hydrogen “Obsky GHC”

    “Novatek” has suspended consideration of the project of the Ob gas chemical complex (“Ob HCK”), the chairman of the board, co-owner of the company Leonid Mikhelson announced on September 7 at VEF-2022. The investment decision is expected in mid-2023, added Michelson. “We have practically passed the pre-FEED stage (pre-project works. – “Vedomosti”). We understand it, but due to the sanctions, we have put it on hold for the time being, we are not making a decision,” he said (quoted by “Interfax”). “Obsky HC” is a project of “Novateka” to produce 2.2 million tons of ammonia and 130,000 tons of hydrogen

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  • The government approved the criteria for potential buyers of Sakhalin-2 stake

    The government approved the criteria for potential buyers of Sakhalin-2 stake

    The government has approved the criteria that a legal entity must meet to buy a stake in the Sakhalin-2 project, according to a decision published on the official legal information portal. Yes, a potential buyer must meet the following criteria: The Sakhalin-2 LNG project is being implemented on the shelf of Sakhalin Island as part of the production sharing agreement (PSA). It envisages the development of mainly oil Piltun-Astok and mainly gas Lunskoye deposits. At the end of June 2022, the President of Russia, Vladimir Putin, signed a decree “On the application of special economic measures in TEK due to

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  • The Ministry of Energy wants to integrate the Far East into the energy market

    The Ministry of Energy wants to integrate the Far East into the energy market

    The Ministry of Energy proposes to expand the second price zone of the wholesale energy market (OREM), which includes Siberia, due to the addition of the Far East to it. This was announced by the Minister of Energy Nikolay Shulginov on September 6 at the session “Electroenergetics of the Far East” VEF-2022 (the recording is available on the forum’s website). Fedor Opadchiy, the Chairman of the Board of the “UES System Operator” (dispatcher of the RF power system), clarified that the experiment on the integration of the Federal Federal District can start as early as the end of September. Shulginov

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  • The shutdown of “Nord Stream” will lead to a further increase in gas prices

    The shutdown of “Nord Stream” will lead to a further increase in gas prices

    “Gazprom” has completely stopped the operation of the Nord Stream gas pipeline due to a malfunction found in the turbine during routine work, the company’s press service reported. The decision was made after maintenance of the Trent 60 gas pumping unit (GPA) at the Portovaya compressor station. When carrying out regular work together with Siemens representatives, an oil leak was detected on the unit at the terminals, cable connections and other places. “The act of detecting an oil leak was also signed by representatives of the Siemens company,” the press service reported “Gazprom” noted that Rostechnadzor warned the company that

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  • Siemens Energy denies involvement in Nord Stream repair

    Siemens Energy denies involvement in Nord Stream repair

    The German company Siemens Energy stated that its specialists do not take part in technological works at the Portovaya compressor station (CS), which ensures the operation of the Nord Stream gas export pipeline, Reuters reported on August 31. The official representative of Siemens Energy confirmed this information to Vedomosti. “Vedomosti” also sent a request to “Gazprom”. The export of gas to the EU via “Nord Stream” was stopped from 4:00 Moscow time on August 31 to 04:00 Moscow time on September 3 due to preventive works on “Portovaya”. Against this background, spot prices for gas in the EU (TTF hub)

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  • “Gazprom” unexpectedly decided to pay dividends

    “Gazprom” unexpectedly decided to pay dividends

    On the evening of August 30, already after the close of trading on the Moscow Exchange, Gazprom’s board of directors recommended paying dividends for the first half of the year in the amount of 51.03 rubles. per share and announced the holding of an extraordinary meeting of shareholders. The gas company announced this in its Telegram channel. This recommendation is given taking into account “confident financial results and a significant reserve of liquidity on the balance sheet,” according to the words of Gazprom’s Deputy Chairman of the Board, Famil Sadigov. Gazprom’s revenue and profit according to IFRS for the first

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  • “Novatek” will withdraw from projects on the shelf of Lebanon

    “Novatek” will withdraw from projects on the shelf of Lebanon

    “Novatek” intends to withdraw from geological exploration projects on hydrocarbon blocks 4 and 9 on the shelf of Lebanon, the Minister of Energy and Water Resources of the country’s interim government, Walid Fayyad, said, as quoted by the Lebanese National News Agency. As the minister noted, Novatek’s subsidiary Novatek Lebanon SAL informed the country’s authorities about its intention to withdraw from the projects after the end of the first exploration period, that is, until October 22, 2022. Novatek owns 20% in Blocks 4 and 9 in the Mediterranean Sea. According to him, the consortium will continue working on the blocks

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  • “Gazprom” again reduced gas supplies to Engie

    “Gazprom” again reduced gas supplies to Engie

    “Gazprom” informed the French energy company Engie about the reduction of gas supplies due to disagreements over a number of contracts. This was reported by Bloomberg on August 30 with reference to a representative of the company, without disclosing the details of the dispute. A representative of Engie informed “Vedomosti” that the company has secured all the necessary volumes of gas for itself and its customers, and also “has taken a number of measures that will help mitigate the financial or physical consequences” of a possible termination of Russian gas supplies. They also reminded that “Gazprom” has already significantly reduced

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  • Germany and Denmark are asking to replace gas pipelines with wind turbines

    Germany and Denmark are asking to replace gas pipelines with wind turbines

    Germany and Denmark plan to put into operation a wind power plant on the Danish island of Bornholm in the Baltic Sea by 2030, Bloomberg reported on August 29, citing the governments of both countries. According to the agency, within the framework of the “Bornholm Energy Island” project, it is planned to create several wind farms, the energy obtained there will be distributed between the two countries. “The power of the project after launch in 2030 will exceed 3 GW – enough to supply energy to 4.1 million households,” the agency reports. The cost will be about 9 billion euros,

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  • Zaporozhye NPP under fire: what will become of the largest nuclear power plant in Europe

    Zaporozhye NPP under fire: what will become of the largest nuclear power plant in Europe

    Incessant shelling of the Zaporozhye Nuclear Power Plant (ZAEP), the largest in Europe, led to the disconnection of Ukrainian consumers for the first time in the history of its operation. “Vedomosti” analyzed what fate awaits the ZNP and whether the risks of the second Chernobyl disaster are great. They cut the wire On August 26, Ukraine was deprived of electricity produced by ZANP – all six units of the plant were disconnected from the Ukrainian power system, the Ukrainian state-owned enterprise NAEK Energoatom, which manages the plant, reported on its Telegram channel on Friday afternoon. Vladimir Rogov, a member of

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  • Norway refused to lower the price of gas for the EU

    Norway refused to lower the price of gas for the EU

    Norway will not reduce the prices of natural gas for importers in the European Union (EU), said on August 26 the minister of oil and energy of the kingdom, Terje Osland, to the Norwegian newspaper E24. The official emphasized that the companies operating on the Norwegian shelf “are operating on a commercial basis”, and the country’s government will not impose contracts for the export of gas at prices below the market. Osland emphasized that the EU leadership began to gradually abandon long-term contracts in favor of the spot market about 20 years ago. And he added that in the current

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  • The USA sent the first tanker with high-sulfur oil to Europe

    The USA sent the first tanker with high-sulfur oil to Europe

    The Capricorn Sun tanker with American sulfur oil arrived at the German port of Rostock for the first time last week, Reuters reported on the night of August 9. The vessel was chartered by the Anglo-Dutch energy company Shell. The agency clarifies with reference to Refinitiv data that about 570,000 barrels of oil were delivered on Capricorn Sun from the state of Louisiana to Germany. The Rostock oil terminal on the Baltic Sea is connected by a pipeline to two oil refineries in the cities of Schwedt and Loyna with a capacity of 233,000 barrels/day and 240,000 barrels/day, respectively. At

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  • New generation for BAM and Transsib will be built by “Inter RAO” by 2028

    New generation for BAM and Transsib will be built by “Inter RAO” by 2028

    The Government Commission on Energy has decided to appoint “Inter RAO” as the organization that will implement the project for the construction of a thermal power station for the energy supply of the Bodaibinsky District of the Irkutsk Region. This power plant is necessary, among other things, for the expansion of the Eastern Polygon of the Russian Railways (BAM and Transsibe). This was reported to “Vedomosti” by a representative of Deputy Prime Minister Oleksandr Novak, who supervises the Fuel and Energy Industry. The power of the TPP will be from 445 to 550 MW, the interlocutor specified. On August 2,

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  • Why FSK and “Rosseti” are only now merging into a single company

    Why FSK and “Rosseti” are only now merging into a single company

    On Friday, July 15, the power grid state holding “Rossiyskie Seti” (“Rosseti”) and its largest subsidiary, the Federal Network Company (FSK, owns the main networks), announced a merger. The base of the merger will be FSK, which will issue additional shares. The papers will be exchanged for Rossetei shares. The head of the United Network Company will be the current head of “Rossetei” Andrey Ryumin. The shareholders of FSK must approve the merger on September 14, the owners of Rossetey shares – on September 16, 2022. The controlling stake of Rossetey (88%) belongs to Rosimushchestvo, the holding owns 80.1% of

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  • Oil falls on fears of a global recession

    Oil falls on fears of a global recession

    World oil prices are gradually decreasing. On July 14, September futures for Brent crude fell to $97.1/barrel, which is $2.4 (or 2.5%) below the closing price of the previous session. The price of futures for the American grade of WTI decreased to $93.6/bbl. (-2.8% compared to the previous session). At 15:00 Moscow time, Brent cost $97.2/bbl. WTI – $94/bbl. Brent fell after data on rising inflation in the US strengthened expectations that the Federal Reserve System will continue to aggressively raise interest rates, Bloomberg reported on July 14. “Concerns about the influence of high inflation on economic growth and demand

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  • Revenues from oil exports from Russia are growing despite a drop in supplies

    Revenues from oil exports from Russia are growing despite a drop in supplies

    The export of Russian oil in June 2022 decreased by 250,000 barrels/day to 7.4 million barrels/day – the lowest indicator since August last year, according to the report of the International Energy Agency (IEA) dated July 13. At the same time, according to the organization, Russia’s export revenue from the sale of oil against the background of high prices increased by $700 million and reached $20.4 billion. In January – June, Russia exported an average of 7.75 million barrels per day. Deliveries to the European Union (EU) decreased by 33% to 1.8 million barrels/day from February to the end of

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  • Will Gazprom resume gas supplies via Nord Stream?

    Will Gazprom resume gas supplies via Nord Stream?

    On July 11, Russia stopped supplying gas to the European Union (EU) via the key Nord Stream gas pipeline with a capacity of 55 billion cubic meters. m per year due to scheduled repairs. The gas pipeline will not operate until July 21, its operator Nord Stream AG said. According to the European Network of Gas Transport System Operators (ENTSOG), now the export of Russian gas to the EU is carried out only through the land part of the Turkish Stream, as well as transit through the territory of Ukraine. On July 11, the transit of 39.4 million cubic meters

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  • Germany may nationalize the energy concern Uniper

    Germany may nationalize the energy concern Uniper

    On July 5, the German government urgently approved a bill on the nationalization of energy companies and the transfer of costs. On Friday, July 9, the approval of the document by the Bundestag is planned. Uniper, the owner of power plants in Russia and once the largest partner of Gazprom in Europe, may fall under the influence of the new bill. As the German Handelsblatt reported on July 5 with reference to sources, the German government may receive a share of up to 25% in Uniper upon partial nationalization. Uniper (78% of the shares in the Finnish energy company Fortum),

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  • They want to protect the mining from unfriendly investors

    They want to protect the mining from unfriendly investors

    On July 5, the State Duma must adopt a bill in the second reading that will allow foreign subsoil developers to be transferred to Russian legal entities through the court. Sergei Gavrilov, chairman of the lower house committee on property, which developed the amendment, told Vedomosti about this. According to him, the bill initiates the application of a mechanism similar to the one introduced by the decree of the President of Russia in relation to Sakhalin Energy – the operator of the Sakhalin-2 project. As “Vedomosti” wrote, the decree was posted late in the evening on June 30 on the

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  • Russia has moved Saudi Arabia into China’s oil market

    Russia has moved Saudi Arabia into China’s oil market

    In May 2022, Russia exported 55% more oil to China than in May last year and became Beijing’s largest supplier, surpassing Saudi Arabia, Reuters reported on June 20. According to China’s General Customs Administration (quoted by Reuters), Russian oil imports, including supplies through the Eastern Siberia-Pacific Ocean (ESDP) pipeline and shipping from European and Far Eastern ports, amounted to about 1.98 million barrels per day. In April this year, deliveries were 25% lower – about 1.59 million barrels per day. According to the concluded contracts, the ESDP pipeline supplies amount to 800,000 barrels per day, and China’s maritime imports from

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  • OPEC + is forcing the increase in oil production

    OPEC + is forcing the increase in oil production

    Following the ministerial meeting of the members of the agreement, the parties to the OPEC + deal decided to increase the quota for oil production for July and August 2022 to 648,000 barrels per day (bpd) per month. The previous plan provided for a monthly increase from May to September inclusive of 432,000 bpm per month. Now the September growth has been postponed to July and August, according to OPEC. Thus, the monthly production quota was increased by about 220,000 bps. Under the agreement, Russia and Saudi Arabia will be able to increase oil production in July by 170,000 bpd

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  • Gazprom’s deliveries abroad fell by almost a third

    Gazprom’s deliveries abroad fell by almost a third

    Gazprom’s exports to foreign countries in the five months of 2022 decreased by 27.6% compared to the same period last year and amounted to 61 billion cubic meters. m of gas, the company said on June 1. As a result, in January-May it reduced production to 211.4 billion cubic meters. m, which is 4.8% (or 10.6 billion cubic meters) less than in 2021. The release emphasizes that gas supplies “are carried out according to confirmed applications” of consumers. Production volumes were supported by a significant increase in consumption – by 17.7% – within Russia. Gazprom also reported that gas exports

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  • Shell has left the joint venture with Gazprom Neft in Gidan

    Shell has left the joint venture with Gazprom Neft in Gidan

    The British-Dutch oil and gas company Royal Dutch Shell has withdrawn from the authorized capital of the joint venture with Gazprom Neft, Gidan Energy. According to an extract from the Unified State Register of Legal Entities, Gazprom Neft has been the sole owner of the joint venture since May 19. Vedomosti sent a request to Gazprom Neft. A Shell representative confirmed to Vedomosti that the company had left the joint venture. He explained that the deal was carried out “within the framework of the concern announced in early March 2022 to withdraw from projects in the Russian oil and gas

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  • Poland has given up Russian gas ahead of schedule

    Poland has given up Russian gas ahead of schedule

    The Polish authorities have decided to terminate the contract for the supply of Russian pipeline gas to the country, which could continue until the end of 2022, said on May 23 the representative of the government’s strategic energy infrastructure Peter Naimsky on Polish Radio. “After 30 years, we can say that relations in the gas industry between Poland and Russia cease to exist,” he said (quoted by TASS). Naimsky added that the Polish section of the Yamal-Europe gas pipeline will be used for gas transit through Polish territory, as well as for gas supplies from Germany to Poland. Gazprom exports

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  • Why Lukoil buys Shell gas stations in Russia

    Why Lukoil buys Shell gas stations in Russia

    Lukoil will buy the Russian “daughter” of the British-Dutch oil and gas company Shell, which owns a refueling network and a lubricant plant in the country, the company said. We are talking about 411 gas stations located mainly in the Central and North-Western federal districts, as well as a plant for the production of lubricants in Torzhok, Tver region with a capacity of 200 million liters per year, according to Lukoil. “The acquisition of Shell’s high-quality business in Russia is fully in line with Lukoil’s strategy to develop priority sales channels, including the retail network, as well as the development

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  • Gazprom reported record profits for the fourth quarter and the whole of 2021

    Gazprom reported record profits for the fourth quarter and the whole of 2021

    In 2021, Gazprom earned 2.09 trillion rubles. net profit under IFRS against 135 billion rubles. a year earlier. The company announced this on April 28. The monopoly’s revenue increased by 62% and reached 10.24 trillion rubles, EBITDA increased 1.5 times during the reporting period to 3.69 trillion rubles. Net revenue from gas sales increased by 85% to 5.7 trillion rubles, and from sales of oil and gas products – by 44% and amounted to 2.6 trillion rubles. “The main factor influencing the financial result was the increase in gas and oil prices. The consequence of this was an increase in

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  • The European Union may impose a ceiling on the price of Russian oil

    The European Union may impose a ceiling on the price of Russian oil

    The EU may impose a marginal price on imported Russian oil to cut Russia’s revenues, the Financial Times (FT) reported, citing its own source. Such a measure is being considered in the preparation of the next (sixth) package of sanctions against Russia due to a special military operation in Ukraine. Valdis Dombrovskis, vice-president of the European Commission, said on April 25 that the sixth package of anti-Russian sanctions could include restrictions on Russian oil imports. The proposal arose against the background of the impossibility of imposing a total ban on oil supplies from Russia, writes FT. According to analysts interviewed

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  • The IEA predicts a decline in oil production in Russia in the coming months

    The IEA predicts a decline in oil production in Russia in the coming months

    Sanctions due to a special military operation in Ukraine may lead to a decrease in oil production in Russia in April 2022 by 1.5 million barrels per day (bpd) compared to the previous month. This forecast is given by the International Energy Agency (IEA) in a monthly review published on April 13. According to the IEA, since April 1, production in Russia has decreased by 700,000 bpd compared to March, and this decline will increase to 1.5 million bpd within a month. The IEA notes that Russian refineries continue to cut production, the country’s oil storage tanks are filling up,

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  • IEA expects oil production in Russia to fall by 30%

    IEA expects oil production in Russia to fall by 30%

    Due to Russia’s special military operation in Ukraine and related disruptions in oil supplies, global demand for oil in 2022 will increase by only 2.1 million barrels per day (bpd), according to a March report by the International Energy Agency ( IEA). In February, the IEA expected demand to grow by 3.2 million bpd. Global demand, according to the agency, in 2022 will be 99.7 million bpd (the February report said 100.6 million bpd). “The consequences of the potential loss of Russian oil exports to world markets cannot be underestimated. Russia is the world’s largest exporter, supplying 8 million bpd

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  • Gasoline is becoming more expensive in Europe due to the energy crisis and geopolitics

    Gasoline is becoming more expensive in Europe due to the energy crisis and geopolitics

    In European countries in January-February 2022, retail gasoline prices rose by an average of almost 7%. According to the platform fuelo.net, in just two months (as of March 1) the cost of a liter of AI-95 at gas stations rose in Romania – by 14.2% to 1.41 euros. The highest prices were recorded in the Netherlands, where on March 1 the price of a liter of AI-95 was 2.15 euros (5.4% more than at the beginning of the year). In Italy, 1 liter costs an average of 1.99 euros (+ 8.5%), in Greece – 1.89 euros (+ 8.3%), in Germany

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  • Oil, gas and other commodities are becoming more expensive

    Oil, gas and other commodities are becoming more expensive

    World commodity prices, including oil and gas, accelerated on February 24 amid Russia’s special military operation in Donbass and Ukraine. The price of Brent North Sea crude oil rose by 8.3% to the previous day’s trading session, to $ 104.8 per barrel – for the first time since mid-August 2014, according to ICE. US WTI rose 7.8% to $ 99.4 per barrel. March gas futures at the Dutch hub TTF at 17:00 Moscow time rose by 40% to $ 1437 per 1,000 cubic meters. m, and during the day its value “broke” the level of $ 1,500 per 1,000 cubic

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  • Ukraine is complaining to an American court about the threat of war with Russia

    Ukraine is complaining to an American court about the threat of war with Russia

    Ukraine has appealed to the Federal Court of the Southern District of New York (USA) to deny Tatneft a lawsuit against representatives of 52 banks as part of a recovery in favor of the oil company $ 173 million for the loss of a stake in Kremenchug refinery, according to Bloomberg. Citigroup Inc., JPMorgan Chase & Co., Credit Suisse, Danske Bank A / S, the Reserve Bank of Australia and other financial institutions have been summoned to court for information. According to the Ukrainian side, this demand of Tatneft is a pretext for obtaining confidential information, in particular, about the

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  • BP receives quarterly profit of $ 555 million from participation in Rosneft’s capital

    BP receives quarterly profit of $ 555 million from participation in Rosneft’s capital

    BP estimates the pre-tax profit and interest income for the fourth quarter of 2021 from its shareholding in Rosneft at $ 555 million, according to a report by the British oil and gas company published on February 8. In the third quarter of 2021, BP’s profit from participation in the Russian company’s capital amounted to $ 868 million, in the second quarter – $ 451 million, in the first – $ 643 million. “Amounted to $ 270 million. BP owns 19.75% of Rosneft shares, but taking into account its subsidiaries (quasi-treasury package), its share reaches 22%. Based on these indicators

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  • Power engineers want to turn off the light to the “gray” miners

    Power engineers want to turn off the light to the “gray” miners

    The Association of Guaranteeing Suppliers and Energy Sales Companies (SOEs and ESCs) has proposed allowing power engineers to disconnect illegal cryptocurrency miners from power. Such a letter was sent on February 2 to the State Duma Committee on Energy and was later published on the organization’s website. In the document, the head of the association Natalia Nevmerzhitskaya insists on enshrining in the regulatory framework the concept of “household electricity consumption”, clearly stating that it can not be carried out for profit. Appropriate amendments are proposed to the Housing Code or the Civil Code. The mechanism of legal disconnection of illegal

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  • Gazprom demanded that Poles share $ 430 million

    Gazprom demanded that Poles share $ 430 million

    Gazprom has filed a lawsuit against the Polish state oil and gas company PGNiG. The Polish company announced this on February 2, the information was confirmed to Vedomosti by Gazprom. The lawsuit was filed in accordance with UNCITRAL regulations, the UN Commission on International Trade Law. It has been in operation since 1976 and is a popular tool for resolving disputes in ad hoc arbitration (created by the parties to consider a specific dispute). Gazprom’s lawsuit concerns the management of the joint venture Europol Gaz SA, which is the operator of the Polish section of the Yamal-Europe gas pipeline (capacity

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  • How oil-producing countries are violating the OPEC + agreement

    How oil-producing countries are violating the OPEC + agreement

    The participants of the ministerial meeting of the OPEC + member states on February 2 decided to increase production by another 400,000 barrels per day (b / c) in March, Interfax reported. This increase in production within the parameters of the OPEC + transaction should occur on a monthly basis. But in January 2022, the parties to the agreement were able to increase it by only 210,000 bps. In January, a significant increase in production was observed in Saudi Arabia (+100,000 bpd), Nigeria (+50,000 bpd), Kuwait and the UAE (40,000 bpd each), according to Reuters. However, OPEC + members were

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  • Why did Rosatom buy Quadra from Mikhail Prokhorov?

    Why did Rosatom buy Quadra from Mikhail Prokhorov?

    A member of the Rosatom company “Rusatom Infrastructure Solutions” (RIR) bought in the group “Onexim” Mikhail Prokhorov power company “Quadro”, said “Rosatom” on January 31. On Monday, the sides signed an agreement for the sale of 82.47% stake in the generating company. The transaction amount was not disclosed. “After the transition to the structure of RIR, the company’s facilities are planned to implement programs to increase the efficiency and reliability of heat supply, the formation of” green “projects together with the regions, the introduction of digital technologies in the energy and heat network,” said Rosatom. It is also noted that

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  • Why A-Property attracts Chinese to Yakutsk gas project

    Why A-Property attracts Chinese to Yakutsk gas project

    Albert Avdolyan-owned A-Property has agreed with the Chinese company Zhejiang Energy International Limited (ZEIL, a subsidiary of the state corporation Zhejiang Energy Group) to sell 10% in the companies of the Yakut Gas Project. This was announced on January 19 by YATSEK. We are talking about the Yakutsk Fuel and Energy Company (YATEK) and Globaltech. Under the preconditions of the deal, A-Property will carry out integrated project management, including design and construction. In turn, ZEIL will supply liquefied natural gas (LNG) to the Chinese market under an offtake contract (for the purchase of unfinished products). The target LNG markets for

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  • Why Moldova cannot pay for Russian gas

    Why Moldova cannot pay for Russian gas

    The Moldovan government has again asked Gazprom to postpone the advance payment for January gas supplies, Deputy Prime Minister and Minister of Infrastructure and Regional Development Andrei Spinu told a news conference on January 11. “Yesterday I had a conversation with [председателем правления «Газпрома» Алексеем] “Miller, during which we tried to agree on the possibility of postponing the payment of this advance for 10-20 days, so that” Moldovagaz “was able to save money,” he said (quoted by TASS). Meanwhile, discussions with the Russian company on this issue, according to Spin, continue. Moldovagaz also had problems with payment for current supplies

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  • Gazprom wants to build a third skyscraper in St. Petersburg

    Gazprom wants to build a third skyscraper in St. Petersburg

    Gazprom is discussing with the St. Petersburg authorities the possibility of building a third 555-meter-high skyscraper in Lahti (Primorsky District of the city), where its headquarters are now located. This follows from a company announcement posted on its official website. It also says that the total area of ​​†‹вЂ‹ the facility may be about 179,000 square meters. m. The amount of investment required for its construction, the company does not disclose. Vedomosti sent a request to Gazprom. The new skyscraper will be part of the architectural project together with other similar objects of the company – the business center

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  • Gas prices in Europe have fallen sharply due to expectations of additional LNG consignments

    Gas prices in Europe have fallen sharply due to expectations of additional LNG consignments

    Spot gas prices in Europe on December 24 fell by 18.5% to the previous day, according to the ICE exchange. At the most liquid European hub TTF in the Netherlands, January futures on Friday fell to $ 1250 per 1,000 cubic meters. m (at 18.23 Moscow time – $ 1281), on the eve of trading closed at $ 1573. Earlier this week, European gas hubs saw a sharp rise in prices. And on December 21, adjusted by including a sharp cold snap, they reached an absolute all-time high of $ 2,200 per 1,000 cubic meters. m. As a result, the

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  • Novak explained why the price of oil in 2022 will remain stable.

    Novak explained why the price of oil in 2022 will remain stable.

    Deputy Prime Minister Alexander Novak believes that sharp fluctuations in oil prices in 2022 should not be expected. The price of a barrel, according to his estimates, will remain at about $ 75. “Overall, the current levels we see today are quite stable – that is $ 75 per barrel, plus or minus 10%. It seems to me that such parameters may be maintained next year, ”the Deputy Prime Minister said in an interview with Russia 24 TV channel. Novak added that the price is influenced by many factors, including the balance of supply and demand and force majeure, but

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  • Why Ulan-Ude almost ran out of heat

    Why Ulan-Ude almost ran out of heat

    On December 23, the authorities of Buryatia declared a state-of-the-art emergency regime after a fire at CHP-1 with a capacity of 136 MW in Ulan-Ude. This was reported by the press service of the regional government. The fire wiring as a result of a short circuit occurred around 3.30 local time and was put out around 6am. But as a result, according to an operational summary of the TGC-14 power company, which owns the station, the hot water temperature was reduced for 791 homes (out of 2,500 in Ulan-Ude), 71 schools, 37 preschools and 29 medical facilities. At 10:53 local

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  • Putin explained the reasons for rising gas prices in Europe

    Putin explained the reasons for rising gas prices in Europe

    Gazprom is not booking the transit capacity of the Yamal-Europe gas pipeline due to the lack of applications for gas from European consumers. This was stated by Russian President Vladimir Putin at the final press conference on December 23. “Because he (” Gazprom “-” Vedomosti “) did not book this traffic, because those of his contractors and companies, and above all, the German and French, who buy gas on this route, did not apply for the purchase. What to transit if there are no purchase orders? ” Putin was indignant. For the third day in a row, Gazprom has not

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  • Russia has broken the absolute record of power plant load

    Russia has broken the absolute record of power plant load

    Russia set an absolute record for power consumption in the country’s Unified Energy System (UES) on December 22, the Energy Ministry said. According to the agency, this figure reached 159.48 GW on Wednesday. This is 2 GW higher than the previous record set in 2012 – 157.43 GW. According to the UES System Operator (CO, Energy System Dispatcher), the record was set on Wednesday at an average daily outdoor temperature of -15 ºС. “The dynamics was influenced not only by the temperature factor, but also by the growth of electricity consumption by industry and the population. Increase in electricity consumption

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  • Due to which increased oil and gas production in Russia in 2021

    Due to which increased oil and gas production in Russia in 2021

    According to the results of 2021, oil production in Russia will be about 517 million tons, gas – about 740 billion cubic meters. m. This was announced December 22 at a briefing by Minister of Natural Resources and Ecology Alexander Kozlov. In 2020, the country, according to the Ministry of Environment, produced 50.56 million tons of oil and 6977 billion cubic meters. m of gas. That is, in 2021, oil production could grow by 2, 3%, gas – by 6, 1%. At the same time, according to Kozlov, the increase in oil and gas condensate reserves in 2021 is estimated

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  • The Ministry of Environment will start issuing CO2 burial licenses in 2022

    The Ministry of Environment will start issuing CO2 burial licenses in 2022

    From January 1, 2022, the Ministry of Environment will begin issuing licenses for the creation of storage facilities for greenhouse gases. This was announced at a briefing on December 22 by Minister Alexander Kozlov. “We have worked out a mechanism for providing subsoil areas for the use of greenhouse gases,” he said. He stressed that today it is “not only an important part of the international environmental agenda, but also an investment-attractive business that is gaining momentum.” According to Kozlov, companies can get licenses to assess the suitability of the subsoil for download today. “And from January 1, it will

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  • Gas prices in Europe reached $ 2,200 per 1,000 cubic meters

    Gas prices in Europe reached $ 2,200 per 1,000 cubic meters

    Due to the intensifying energy crisis, Europe is becoming a more attractive market for gas suppliers than Asia. Traditionally, the gas market is referred to as the “Asian premium”, ie situations where the supply of liquefied natural gas (LNG) to China, Japan and other Far Eastern countries is more profitable due to higher prices in the ACR. But now the Asian prize no longer affects spot prices in Europe, as the European prize has been formed, said Deputy Director General of the National Energy Security Fund Alexei Grivach. According to the Platts Index, on December 20, 1,000 cubic meters. m

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  • Rosneft has adopted a green strategy until 2030

    Rosneft has adopted a green strategy until 2030

    Rosneft’s board of directors has approved the company’s development strategy until 2030. The document provides for a reduction in the carbon footprint. According to Igor Sechin, the company’s chief executive officer, the new strategy will help more than double the free cash flow (FCF) by 2030 and ensure a steady rise in the company’s value to shareholders and investors. “At the same time, the goals of the emission reduction strategy confirm the company’s status as a responsible supplier of energy resources and one of the leaders in the energy transition in Russia,” he said. In turn, the chairman of the

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  • Gas prices in Europe are as high as $ 2,000 per 1,000 cubic meters

    Gas prices in Europe are as high as $ 2,000 per 1,000 cubic meters

    Spot gas prices in Europe on the morning of December 20 briefly exceeded the mark of $ 1766 per 1,000 cubic meters. m. We are talking about January futures quotes on the Dutch hub TTF. Compared to Friday, the increase was about $ 140 per 1,000 cubic meters. m, according to the ICE exchange. Later, the trading price fell slightly and fluctuated around $ 1,700 per 1,000 cubic meters during the day. m. Another increase in spot prices took place against the background of news about the low volume of reservations of transit capacity “Gazprom”. The day before, the Russian

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  • Leonid Fyadun predicted a dramatic rise in oil prices

    Leonid Fyadun predicted a dramatic rise in oil prices

    Oil consumption will be stable until 2030, followed by a sharp decline in consumption in Europe, and from 2035 also in China and the United States. This was stated by Vice President of Lukoil Leonid Fyadun on Friday at a presentation of prospects for global energy development until 2050. But current oil projects, according to the top manager, are not enough to meet oil demand. “The industry is heavily underinvested. Underinvestment in the oil industry could lead to a dramatic rise in prices, ”he was quoted as saying by Interfax. At the same time, the presentation of “Lukoil” presented by

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  • Europe has come to terms with high gas prices for another six months

    Europe has come to terms with high gas prices for another six months

    The period of high gas prices in Europe will probably last until the summer of next year. In April 2022, when the heating season in Europe ends and gas is pumped into underground storage facilities (UGS), prices will not fall below $ 1,000 per 1,000 cubic meters. m, according to Director of Research Vygon Consulting Maria Belova. She commented on the statement of the head of the Federal Network Agency of Germany (Bundesnetzagentur, BNA) Johann Homann that the decision to certify the Nord Stream-2 export pipeline will not be made in the first half of 2022. A representative of the

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  • Gas prices are going up due to politics, shortages and cold spells

    Gas prices are going up due to politics, shortages and cold spells

    Spot prices (January futures) for gas in Europe on December 13 rose to $ 1380 per 1,000 cubic meters. m, which was a record increase since October 5. At the same time on December 10, according to the ICE exchange, the Dutch hub TTF futures cost about $ 1255 per 1,000 cubic meters. m. High prices persist in the Asian market. According to the Platts Index, December 10, 1,000 cubic meters. m of natural gas cost about $ 1260. The rise in prices came amid a sharp statement by German Foreign Minister Annalena Burbock in an interview with ZDF. She

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  • Lukoil failed to get a blockchain in the Shah Deniz project

    Lukoil failed to get a blockchain in the Shah Deniz project

    Lukoil will reduce its stake in the Azerbaijani Shah Deniz project in the Malaysian company Petronas, the Russian company said. It will fall from the previously stated 15.5% to 9.99%, and the deal amount from $ 2.25 billion to $ 1.45 billion respectively. Its closure is expected in January 2022. “The signing of these changes was the result of negotiations with partners in the Shah Deniz project on the implementation of preferential rights,” – said in a release. Lukoil now owns 10% of the Shah Deniz offshore gas condensate offshore project. The operator of the project is the British BP,

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  • Why Poland is campaigning for a new antitrust investigation against Gazprom

    Why Poland is campaigning for a new antitrust investigation against Gazprom

    The European Commission (EC) needs to initiate a new antitrust case against Gazprom. “There are a lot of tools in the antitrust investigation, the EC is well able to do it,” she said. Moscow added that Poland does not understand why the EC has not yet seen these grounds. She also stressed that Warsaw sent additional materials to the EC in this case in December 2021 and hopes that there will be enough. According to the Minister, she also intends to meet with EU Commissioner for Energy Kadri Simson in the near future to insist on this. This is not

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  • “T Plus” has decided to increase debts and dividends

    “T Plus” has decided to increase debts and dividends

    Energy company “T Plus” will adjust the long-term strategy until 2032 adopted in 2019, laying in it the ability to stably pay dividends, told reporters on December 9, its CEO Andrei Wagner. “The old strategy from 2023 assumed zeros until 2032 – when it was impossible to pay dividends. Due to qualitative changes [в стратегии] opportunity to pay [акционерам] 06/07 billion rubles appeared in a year, ”he said. According to Wagner, the updated strategy is generally ready, but it still needs to be approved by the board of directors, which will be done in 2022. According to the results of

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